Shares of US-listed copper companies are trading lower amid reports suggesting that Goldman Sachs cut the commodity's forecast due to softer Chinese demand.
Portfolio Pulse from Benzinga Newsdesk
Shares of US-listed copper companies are declining following reports that Goldman Sachs has reduced its forecast for copper due to weaker demand from China.
September 03, 2024 | 2:14 pm
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NEGATIVE IMPACT
BHP shares are likely to be impacted negatively as Goldman Sachs cuts its copper forecast due to weaker Chinese demand.
BHP is a major player in the copper market, and a reduced forecast by Goldman Sachs due to weaker Chinese demand could negatively impact its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Southern Copper Corporation (SCCO) shares are likely to decline as Goldman Sachs cuts its copper forecast due to weaker Chinese demand.
SCCO is heavily involved in copper production, and a negative forecast from Goldman Sachs could lead to a decrease in its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
TECK Resources shares may be negatively affected by Goldman Sachs' reduced copper forecast due to softer demand from China.
TECK Resources, being involved in copper production, might see its stock price decline following the reduced forecast by Goldman Sachs.
CONFIDENCE 75
IMPORTANCE 55
RELEVANCE 65